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Bitcoin is Cheap Until April, We’ll Never See Price at $3,000 Again: Trader

Joseph Young
Despite a lack of confidence among investors recently, bitcoin could be headed upwards without ever looking back again. | Source: Shutterstock

Despite being down 80 percent from its all-time high, a fairly large number of investors are still cautious and shorting bitcoin in a low price range.

Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a  lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin.

1-Month Price Chart of Bitcoin (Source: Coinmarketcap.com)

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But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future.

Why $3,000 For Bitcoin is Rare

According to Galaxy, since its inception, bitcoin has established a trend of reaching a new all-time high, enduring a steep decline in price, initiating an accumulation, and recovering to a new high.

Based on that trend, the trader said that investors will likely never see Bitcoin at $3,000 once again after April and the dominant cryptocurrency is en route to recovering in 1 to 2 months.

He said:

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